Annual Report 2011

Ž E L E Z I A R N E P O D B R E Z O V Á A . S . 25 ŽĎAS, a.s. Tále, a.s. ŽP EKO QELET a.s. Transformaciones Metalurgicas, S.A. TAP Tubos de Acero de Precision, S.L. ŽIAROMAT a.s. KBZ s.r.o. TS Plzeň a.s. Pipex (International) AG PIPEX ITALIA S.p.A. SLOVRUR Sp. z o. o. ZANINONI SLOVAKIA, s.r.o. TS STEEL PIPE & FITTINGS S.r.l. ŽĎAS SGS, GmbH ŽP – Gastroservis, s.r.o. ŽP Informatika s.r.o. ŽP Šport, a.s. ŽP Bezpečnostné služby s.r.o. ŽP BYTOS, s.r.o. ŽP VVC s.r.o. ŽP Rehabilitácia s.r.o. Nadácia Železiarne Podbrezová (Foundation) PROJECT STEEL SUPPLIES PTY LTD STABILITA, d.d.s., a.s. Hutnictví železa, a.s. STRATEGIC COMPANIES MANUFACTURING COMPANIES SALES & DISTRIBUTION COMPANIES SERVICES OTHER OWNERSHIP INTERESTS Žďár nad Sázavou, Czech epublic Horná Lehota, Slovakia Martin, Slovakia Barcelona, Spain Barcelona, Spain Kalinovo, Slovakia Košice, Slovakia Plzeň, Czech Republic Stäfa, Switzerland Arona, Italy Stalowa Wola, Poland Valaská, Slovakia Flero, Italy Menden, Germany Valaská, Slovakia Podbrezová, Slovakia Podbrezová, Slovakia Podbrezová, Slovakia Podbrezová, Slovakia Podbrezová, Slovakia Podbrezová, Slovakia Podbrezová, Slovakia Sydney, Australia Košice, Slovakia Prague, Czech Republic R Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes No No No Conso- lidated 23 435 14 901 26 925 16 981 - 4 844 3 649 - 1 329 320 25 17 - - 929 830 509 200 70 33 5 7 - 94 31 100.00% 98.27% 66.27% 100.00% 100.00% 100.00% 70.00% 100.00% 85.00% 85.00% 68.00% 50.00% 84.15% 67.00% 100.00% 100.00% 99.80% 100.00% 100.00% 100.00% 100.00% 100.00% 8.50% 5.17% 2.34% Direct Direct Direct Direct Indirect Direct Direct Indirect Direct Direct Direct Direct Indirect Indirect Direct Direct Direct Direct Direct Direct Direct Direct Indirect Direct Direct Type of ownership interest Interest in registered capital Investment (EUR '000) (1) Registered office Business name (1)Net carrying amount of the investment (under IFRS). Contributions in foreign currencies are translated using the European Central Bank exchange rate as at 31 December 2011. The most significant change consists in the sale of a 50% interest inTAPTubos de Acero de Precisión, S.L. toTransformaciones Metalurgicas S.A. and in the termination of the liquidation of ŽPTažírny trub Svinov, spol. s r.o., with aliquidation balance of EUR 2 717 thousand.The ownership interest in KBZ s.r.o. rose from 50% to 70%. A new company, ŽP Bezpečnostné služby s.r.o., was established. Other changes are described in detail in the notes to the financialstatements. Financial Investments and Other Ownership Interests as at 31 December 2011 REPORT BY THE BOARD OF DIRECTORS ON THE BUSINESS ACTIVITIES, ASSETS, AND FINANCIAL PERFORMANCE IN 2011 AND INFORMATION ON THE BUSINESS PLAN